Endocrine Testing Market Advance to Meet Health Concerns of Population with Hormonal Disorders, Market to Clock CAGR of 6.4% during 2019 - 2027: TMR
ALBANY, N.Y., Jan. 18, 2021 /PRNewswire/ -- Diseases of endocrine system involving hormones are fairly extensive, and the endocrine testing market has been making continuous strides. The advances have been in relation to the accuracy of the assays and the growing awareness about the common symptoms of the disorders in global populations. Some of the most common ones are male and female infertility, hypothyroidism, and hyperthyroidism. Some of the key tests in demand are follicle stimulating hormone (FSH), Luteinizing Hormone (LH), estradiol, insulin, and thyroid-stimulating hormone (thyrotropin) (TSH).
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The worldwide prevalence of thyroid disorders has spurred the demand for endocrine testing for TSH levels. Advances in medical care and health infrastructure will propel the endocrine testing market to clock CAGR of 6.4% from 2019 to 2027. The revenue is expected to climb to reach US$ 10.6 Bn by the period-end.
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Key Findings of Endocrine Testing Market
-- Awareness about burden of metabolic disorders fuels uptake
Globally, the epidemic of obesity has been the cause of unprecedented healthcare burden. The growing awareness about endocrine hormones disorders causing obesity is propelling the demand for various testing protocols, particularly of the TSH. Hypothyroidism leading to higher prevalence of obesity is a key trend shaping the growth dynamics of the endocrine testing market. Also, there is a high risk of people with clinical obesity to develop type 2 diabetes. Further, there has been rise in incidence of people with diabetes mellitus in adult populations. All these factors have been responsible for the rise in uptake of endocrine testing.
-- Advances made in endocrinology to focus on geriatric population
The prevalence of hypothyroidism with endocrine malignancies is a key trend bolstering the prospects in the endocrine testing market. Rapidly aging societies in several regions of the world boost the momentum. This has also given rise to diabetes in older adults. Thus, there has been steady rise in demand for endocrine testing in older adults.
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-- Clinical chemistry technology to occupy a key focus for stakeholders
The advances being made in clinical chemistry has been crucial in improving the accuracy of endocrine assays. In addition, the market has also benefitted from advancements made in sensor technology used in diagnostics. This has evidently improved home care.
-- High cost of testing still a concern in endocrine testing market
The high cost of lab instrumentation used in various endocrine testing protocols is restraining demands in the endocrine testing market. The cost are usually passed on to final consumers, that is, the patient population. Also, sometimes some endocrine testing may need highly specialized clinical expertise. Further, the lack of commercial laboratory in parts of developing countries has constrained the growth of the endocrine testing market. On the other hand, healthcare companies are keenly expanding their portfolio of hormonal assays.
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Endocrine Testing Market: Key Driving Factors and Promising Avenues
-- Advances made in sensitivity and specificity of endocrine testing
protocols to expand horizon
-- Rise in healthcare expenditure to aid in the commercialization of
advanced assays in endocrine testing market
-- Rapidly aging populations in various parts of the world will propel
demand
-- Focus on automation systems, such as automated immunoassays, to set the
pace of innovation
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Endocrine Testing Market: Competitive Dynamics
-- There is a high degree of fragmentation in the endocrine testing market.
-- Players are keen on unveiling new assays to meet the patients' needs.
They are also setting sights on untapped avenues in Asia Pacific
-- Some of the key players in the endocrine testing market are DiaSorin
S.p.A, F-Hoffmann La Roche Ltd., Beckman Coulter Inc., Bio-Rad
Laboratories, DiaSorin S.p.A, Abbott Laboratories, and Thermo Fisher
Scientific.
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